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State Energy Severance Taxes, 1985-1993

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State Energy Severance Taxes, 1985-1993 DOE/EIA-TR/0599 Distribution Category UC-950 State Energy Severance Taxes, 1985-1993 September 1995 Energy Information Administration Office of Energy Markets and End Use U.S. Department of Energy Washington, DC 20585 This report was prepared by the Energy Information Administration, the independent statistical and analytical agency within the Department of Energy. The information contained herein should not be construed as advocating or reflecting any policy position of the Department of Energy or of any other organization. DISTRIBUTION OF THIS DOCUMENT IS UNLIMITED Contacts This report analyzes changes in aggregate and State-level energy severance taxes for 1985 through 1993. Data are presented for crude oil, natural gas, and coal. The report highlights trends in severance tax receipts relative to energy prices and production, using severance tax data published by the Bureau of the Census of the U.S. Department of Commerce and production data published by the Energy Information Administration. This report was prepared in the Office of Energy Markets and End Use of the Energy Information Administration, U.S. Department of Energy, under the general direction of W. Calvin Kilgore. The project was directed by Mark E. Rodekohr, Director of the Energy Markets and Contingency Information Division (202) 586-1130, and Mary E. Northup, Chief of the Financial Analysis Branch (202) 586-1445. For further information concerning this report, contact Marie N. Fagan (202) 586-1452, or Dennis W. Sumner (202) 586-8597. This report is also available on the Internet (World Wide Web address: http://www.eia.doe.gov). Energy Information Administration/ State Energy Severance Taxes, 1985-1993 DISCLAIMER Portions of this document may be illegible in electronic image products. Images are produced from the best available original document. Contents 1. State Energy Severance Taxes, 1985-1993 1 Energy Markets Affect Severance Tax Receipts 1 Reliance on Oil and Gas Severance Taxes Decreases in 1990's 4 Coal Severance Tax Receipts Decline in the 1980's, Recover in the 1990's 5 Appendix: Methodology and Data Sources Energy Production under State Jurisdiction 9 Evaluating and Adjusting State Tax Receipt Data 9 Establishing Consistent Yearly Data 9 Calculating Effective Tax Rates 10 Tables 1. State Government Tax Receipts, Fiscal Years 1985-1993 2 2. State Government Severance Tax Receipts For Top 8 Energy-Producing States, Fiscal Years 1985-1993 3 3. State Government Severance Taxes for Oil and Natural Gas, Fiscal Years 1985-1993 4 4. State Government Severance Taxes for Coal, Fiscal Years 1985-1993 6 Al. State Government Crude Oil and Natural Gas Severance Tax Receipts, Fiscal Years 1985-1993 13 A2. State Government Coal Severance Tax Receipts, Fiscal Years 1985-1993 14 A3. Production of Oil Under State Jurisdiction, including Lease Condensate, Fiscal Years 1985-1993 15 A4. Marketed Production of Natural Gas (Wet) Under State Jurisdiction, Fiscal Years 1985-1993 16 A5. Production of Oil and Gas Under State Jurisdiction, Fiscal Years 1985-1993 17 A6. Coal Production, Fiscal Years 1985-1993 18 A7. State Government Crude Oil and Natural Gas Severance Tax Receipts, Fiscal Years 1972-1984 19 A8. State Government Coal Severance Tax Receipts, Fiscal Years 1972-1984 20 Figures 1. State Government Energy Severance Tax Receipts 2 2. U.S. Energy Prices 2 3. U.S. Production of Oil, Natural Gas, and Coal 3 4. Energy Severance Tax Share of Taxes, Top 8 Energy-Producing States 3 5. Reliance on Oil and Gas Severance Taxes, Selected States 5 6. Coal Severance Tax Receipts 6 7. Effective Coal Severance Tax Rates, Top Three Coal-Producing States 6 8. Reliance on Coal Severance Taxes, Selected States 7 Energy Information Administration/ State Energy Severance Taxes, 1985-1993 1. State Energy Severance Taxes, 1985-1993 In the United States, State governments often tax a portion of the value of natural resources extracted, or "severed." The States generally levy energy severance taxes in the form of a percent of the value of the resources removed or sold (an ad valorem tax), but sometimes tax the volume of the resource removed (a dollar-per-unit tax). In addition to severance taxes, royalty payments, income taxes, and property taxes related to energy production also contribute to State receipts from energy production. State governments frequently regard severance taxes as a revenue source with a minimal burden to the State's own residents, especially if the taxed resources are produced by out-of-State companies or are exported to customers in other States.1 For example, North Dakota collects about 5 percent of its tax revenue through coal severance taxes. The coal is used for electricity generation within the State, with most of the electricity sold out of the State. Thus, a portion of the severance tax burden is transferred out of North Dakota.2 Although severance taxes can be an attractive source of revenue, they can inhibit development of a State's energy resources by increasing the cost of energy production. If the added cost of a State's severance tax cannot be passed along, the profitability of energy production deteriorates, making energy investment less attractive. An energy- producing State must balance the revenue effects and incentive effects of its severance taxes. Despite the importance of severance taxes as a source of State funds and the effect of energy severance taxes on the cost of energy, published time series of effective tax rates (taxes relative to production) after 1987, have not been available. This report presents such a series on a consistent basis and provides a continuation of the series of State energy severance taxes presented in the earlier Energy Information Administration report, Energy Severance Taxes, 1972-1987.3 Consistent presentation of effective tax rates requires adjusting production data (available on a calendar year or monthly basis) for consistency with revenue data (available on a fiscal year basis). A description of these adjustments and computations, along with detailed State severance tax receipt data and energy production data are presented in the Appendix. The next section of this report summarizes trends in energy severance taxes from 1985 (just before the 1986 oil price collapse) through 1993.4 Trends specific to severance taxes on oil, natural gas, and coal are separately reviewed in the rest of the report. The summary of trends by energy source, with the State-level tax receipt and production data available in the Appendix, will be of use to energy industry analysts and State fiscal and budget analysts, whose investigations and forecasts may depend on assumptions about severance tax rates. Energy Markets Affect Severance Tax Receipts Severance tax receipts generally depend on the price of energy, levels of hydrocarbon production, and the rate at which the States levy taxes. The oil price collapse of 1986 sharply reduced receipts from severance taxes (Figure 1). After 1987, low energy prices and the general lack of growth in energy production resulted in a flattening of 'Robert Deacon et.al., Taxing Energy: Oil Severance Taxation and the Economy, Independent Studies in Political Economy (New York: Holmes and Meier, 1990), p. 49. *U.S. Bureau of the Census, Series GF/92-1, State Government Tax Collections: 1992, U.S. Government Printing Office, Washington, DC, 1994, and earlier issues, and U.S. Bureau of the Census, unpublished data. Energy Information Administration, State Coal Profiles, DOE/HA-0567 (Washington, DC, January 1994), p. 67; and Energy Information Administration, State Energy Data Report 1993, DOE/EIA- 0214(93) (Washington, DC, May 1994), p. 233. 'Energy Information Administration, Energy Severance Taxes, 1972-1987, DOE/EIA-0519 (Washington, DC, August 1988). historical severance tax data (from 1972-1984) can be found in Appendix Tables A7 and A8 of this report. Energy Information Administration/ State Energy Severance Taxes, 1985-1993 1 severance tax collections (Figures 1, 2 and 3). In 1985, for example, the States as a group collected $7.0 billion in energy severance taxes, 3.3 percent of all State tax receipts (Table 1). By 1993, energy severance tax collections fell to $4.6 billion, 1.3 percent of State tax receipts. Figure 1. State Government Energy Severance Tax Figure 2. U.S. Energy Prices Receipts 1985 1986 1987 1988 1969 1990 1991 1992 1993 Fiscal Year Source: U.S. Bureau of the Census, Series GF/92-1, Sfafe Note: Crude Oil Price is domestic first purchase price. Government Tax Collections: 1992, U.S. Government Printing Gas Price is the domestic wellhead price. Coal Price is mine Office, Washington, DC, 1994, and earlier issues, and U.S. price. Bureau of the Census, unpublished data. Source: Energy Information Administration, Annual Energy Review 1993. DOE/EIA-0384(93) (Washington, DC, July 1994), Table 3.1. Table 1. State Government Tax Receipts, Fiscal Years 1985-1993 Energy Severance Taxes Total State Taxes Percent of Total Fiscal Year (billion dollars) (billion dollars) State Taxes 1985 . 7.0 215.9 3.3 1986 6.0 228.3 2.6 1987 4.0 246.5 1.6 1988 . 4.1 264.1 1.6 1989 . 3.9 284.4 1.4 1990 . 4.3 300.7 1.4 1991 . 5.0 311.1 1.6 1992 . 4.3 327.6 1.3 1993 . 4.6 353.3 1.3 Sources: U.S. Bureau of the Census, Series GF/92-1, State Government Tax Collections: 1992, U.S. Government Printing Office, Washington, DC, 1994, and earlier issues, and U.S. Bureau of the Census, unpublished data; and The Book of the States, (Lexington, KY: Council of State Governments), 1994-95 and earlier issues. 2 Energy Information Administration/ State Energy Severance Taxes, 1985-1993 As energy severance tax receipts have declined, most of the energy-producing States have come to rely less on severance taxes as a major source of revenue.
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